If reaching FI means you have saved up 25x your annual expenses, it’s logical to keep your expenses low in order to lower your FI number and shorten the time it takes you to attain it.
One area of our budget that we’ve always been able to keep unusually low is our grocery spending. When Mr. Sim and I first married, we literally had $20-$25/week that we could afford to spend on food. Very quickly, I learned how to find the best deals, coupon, and make the most of what we had. That was my only option if we were going to continue without incurring more debt.
So, as you can imagine, our current grocery budget of $340/month for a family of five feels like luxury! I no longer can clip coupons because our area doesn’t send out paper coupons, but I do still go on to the store’s app and download whatever coupons I can. Additionally, I use Ibotta to get cash back on purchases that I was already going to make. We've earned almost $200 back in the last couple of months. If you'd like to try it out, my referral link is https://ibotta.com/r/ubvmvpe. In our minds, we have more than enough to make delicious meals without resorting to Ramen (although, I admittedly enjoy a bowl of Ramen every now and again…). However, when I tell people our grocery budget, they usually are shocked that we are able to keep it so low.
I like to look at our meals at a cost per person per meal basis. I combine our grocery budget and eating out budget ($80/month), and am able to determine that our average cost per person per meal is $0.93. When coaching others, I try to help them get to $2.
How do I keep our family’s food budget so low? First, we have to be honest with the fact that 3 of the people in are family are quite small. They do still eat a good amount of food. And they do have dietary restrictions that can make for more expensive food options. For example, Minionette #1 is allergic to soy. We enjoy making egg fried rice for lunches or dinners, and we use coconut aminos as a soy sauce alternative. Minion is allergic to oats. We aren’t able to eat oatmeal for breakfast or many breakfast cereals because oats are a major ingredient. But we make it work!
Secondly, I meal plan. I know this sounds like what you hear everyone else say, but it really works! I work out a month of meals in one set. For each week, I plan a “fancy” meal that is typically higher cost to trick us into thinking that we’re treating ourselves. I plan meals that incorporate similar produce because the more you are able to buy in bulk, the cheaper the bill. For example, if asparagus is on sale, I’ll buy a larger portion of asparagus and plan on using it a couple of times that week. I might roast it with lemons, garlic, and butter, or I might cook some bacon in a cast iron pan, then cook the asparagus in the drippings. Two different flavors and experiences. I also plan to have most of our lunches be either leftovers from dinners, sandwiches and veggies, or an ultra low-cost meal like kale, garlic, and Parmesan spaghetti. When making dinners, I make enough to have plenty for another meal. Our favorite pizza is a pesto, artichoke, and chicken pizza with homemade crust. It’s slightly pricier than our typical meals, so I double up the recipe, make two large pizzas, and save one for the next day. This also saves time on cooking in the kitchen!
Next, I go to a few different stores to get what I need for the best prices. I prefer to go to our Kroger for items that you’d typically store in the pantry and dairy products. Kroger tends to have good sales, coupons, and gives you points towards fuel. Last month we accrued enough to get $0.80 off/gallon, although some of those points were from buying gift cards. Food King is a recent find that has incredible meat prices! I get almost all of my meat there. I’ve purchased 10 lb ground beef chubs for $13, and a 10 lb bag of chicken leg quarters for $3! Sprouts is my go-to on produce. They always have a great variety at great prices, and it’s fresh!
Finally, I write a list of everything that I’m going to purchase and make one big shopping trip at the beginning of the month. It’s a very rare exception that I make a purchase that wasn’t on my list, which correlates to the meal plan. Studies have shown that the more trips you take and the more minutes you spend in a grocery store, the more you spend. By keeping our time in the store at a minimum, I not only make the most of my time, but I save a pretty penny. We do allow for a weekly small trip for around $25-$30 for additional produce. This past Saturday, we spent $238.24 on November’s groceries, so we still have $100 for the rest of the month’s produce.
I plan to get more into the weeds on our meals in the future. Feel free to ask any questions you may have!
